The freehold of Stafford Cinema was up for sale by auctioneers Acuitus in London on Wednesday.
It had been listed for a guide price of £350,000.
Stafford Borough Council had previously said the site could potentially be transformed into a multi-storey development with shops on the ground floor and homes above.
The historic venue reopened in October, eight months after it closed having been saved the first round by AJH Cinema in April 2018.
The three-screen cinema, in Newport Road, had been left with an uncertain future when it first closed at the end of 2017.
The cinema is just yards away from the new £6.5 million Odeon Luxe complex in Bridge Street, which opened in November 2018.
Cinema tenancy holder Sam Lavington previously said he was “hopeful” the 1930s cinema would remain open but that he could not keep up the financial costs alone.
Mr Lavington has the lease until October 2022…